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Wesley Chapel Real Estate Update:

36 homes sold during the same period last year which resultedin 27.8% decrease in the number of homes sold and closed. However it resulted in 3.4% decrease in the median price from $169,000 to $163,250.

The number of closed home sales went up since last month from 23 homes to 26 homes yet resulted in lower median price from $171,500 to $163,250.

At the end of the month there were 118 homes for sale in this area ofWesley Chapelwhich included 36 new home listings.

New home listings stayed same from 36 to 36 homes in contrast with same period last year however down since last month from 40 to 36 homes.

Since 46 homes went under contract, it resulted in 2.6 months of inventory of available homes only.

Number of homes that went under contract were up from 34 in October 2013 to 46 homes in October 2014. They also went up since last month 35 to 46 homes.

The average days on the market currently in this area was around 80 days which is more than last month and last year’s average.

Most of the Wesley Chapel real estate that sold was purchased with FHA and Conventional financing.